(Alliance News) - MJ Hudson Group PLC said on Thursday that its annual performance is set to beat market consensus after an "exceptionally" strong third quarter.
For the year ending June 30, the asset-management consulting company has reported that adjusted earnings before interest, tax, depreciation, and amortisation are expected to be at least GBP8.3 million, a 45% increase compared with the prior year.
MJ Hudson put the rise in earnings down to an improved business mix through new client wins in its higher margin segments, also allowing for improved revenue visibility.
MJ Hudson expects the full impact of client growth to carry on into its 2023 financial year.
The group said its outlook for the year remains strong.
"We are delighted to give such a positive update on trading, today, following an exceptionally strong third quarter," said Chief Executive Matthew Hudson. "Our ability to win high-profile clients across our other business areas demonstrates the end-to-end strength of the MJ Hudson platform. This, taken together with our exposure to the on-going growth of private markets and our long term relationships with mostly an Anglo-American client base, underpins our growth and makes for a resilient business model."
MJ Hudson was trading 5.3% higher in London on Thursday morning at 35.55 pence.
By Sophie Rose; sophierose@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
